Colombia, Peru may centralize purchase of gold to combat crime, environmental destruction

A regional effort is needed to fight illegal mining, Duque said, highlighting deforestation and the use of mercury associated with illicit extraction.

RIO DE JANEIRO, BRAZIL - The governments of Colombia and Peru are studying the possibility of centralizing gold purchases, in an effort to combat illegal and informal extraction, officials from both countries said on Tuesday, March 2nd.

Colombian President Ivan Duque said his government is considering the move to stymie the role illegal mining plays in fueling a decades-long internal conflict.

“We have considered reopening that conversation, also with the central bank, of returning to centralize... the buying of gold,” Duque said during the ELAMI regional mining conference. Colombia’s central bank was the sole purchaser of gold output in . . .

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